4. Ceylon Tobacco Company

VIEWS (1944)

Susantha Ratnayake, Chairman, Felicio Ferraz, Managing Director/CEO

Ceylon Tobacco Company (CTC) ranks at number four this year. The Company has retained its position in the top five of the ranking this year as well. Considering the challenging environment it had to operate in the company has been able to perform well. Being the largest contributor of national tax revenue amounting to 91.6 billion rupees, CTC provides seven per cent of the Government's total revenue.

CTC recorded a 23 per cent growth in PAT that amounted to 10.6 billion rupees. By focusing on growth, productivity, sustainability and a winning organisation CTC has been enabled to deliver volume and revenue growth during the financial year. The Company was able to achieve a revenue growth of 105 billion rupees, which was a 21 per cent increase from the previous year. Government levies increased by 22 per cent.

The fact that there was a significant shift of the consumer from beedi to CTC brands as well as the increased demand in the premium products resulted in the improved performance of the company. Regulation as always has been a key determinant for CTC.

The Company provides employment to over 181,000 people and has supported the rural economy by the input of more than 5.7 billion rupees. CTC accounts for over seven per cent of the total market capitalization of listed companies.

Ceylon Tobacco Company continues to maintain its commitment to its consumers and stakeholders while following Government policies and regulations. However, regulations implemented on an ad-hoc basis continues to be a challenge for the company.